Spanish REIT Merlin Properties has announced plans to raise €614 mln through the issue of nearly 65 million new shares.
Spanish REIT Merlin Properties has announced plans to raise €614 mln through the issue of nearly 65 million new shares.
Merlin said in a statement that it will issue the shares at a nominal value of €1 plus a premium of €8.5, giving the issue a total price of €9.5 per share.
UBS is acting as global coordinator and joint bookrunner, while banks Credit Suisse, Goldman Sachs and Morgan Stanley & Co are acting as joint bookrunners.
BBVA, Banco Santander, Bankinter, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Fidentiis Equities, Sociedad de Valores, and Société Générale, are the co-lead managers.
Merlin Properties went public last summer with the largest listing ever of a European real estate investment trust (REIT).
The size of the IPO was set at 125 million shares, representing a market capitalisation of €1.25 bn, excluding the over-allotment option that was set at a maximum 8 million shares.
